Month: June 2021

EMEA Base Oi Price Report 29.06.21

Base oil markets around the Europe, Middle East and Africa regions are witnessing extraordinary events at the moment, with supplies drying up and prices maintained at all-time highs.

However, there are pockets of supply where refiners are desperate to move product due to lack of local or regional demand. Such is the case in Turkey where the local refinery in Izmir is having to participate in export markets to move inventory. This is the case where local demand has collapsed for the API Group I grades available from this source. read more

EMEA Base Oil Price Report 15.06.21

Supply of API Group I base oils is easing somewhat in Europe, the Middle East and Africa, but availability remains snug – especially in Europe – and prices have not dropped. Group II values are also steady, and Group III prices have begun to rise again on the back of a scarcity and rising feedstock costs.

Many in the market had anticipated that base oil availabilities would improve when refiners started to ramp up output of transportation and in the process increased production of vacuum gas oil, which is used as a feedstock for base oils. So far, base oil availabilities do not appear to have improved, though some suggest that the effect on base oils may take some time to materialize. Buyers have been trying to negotiate prices but in most cases without much success. Sellers recognize that supply is still woefully short for all types of base oil and are refusing to budge from the high levels established the past few months. read more